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Turkey Introduces Pricing Method for First Year of Easement and Usufruct Rights over Treasury-owned Property

A pricing method has been introduced in Turkey for the first year of easement and usufruct rights over Treasury-owned real property. The method applies to investors in the defense and aerospace industry which require domestic development and advanced technology. Accordingly, the first year’s price for such rights will be 0.1% of the total minimum unit value per square meter, as is used for calculating the property’s real estate tax base. Investors can ask to adjust the pricing method for existing easement and usufruct agreements concluded before 12 November 2016, in accordance with the new first year pricing method.

The Regulation on the Management of Real Property Owned by the Treasury was published in Official Gazette number 29886 on 12 November 2016, entering into effect on the same date.

Please see this link for the full text of the Regulation (only available in Turkish).

Information first published in the MA | Gazette, a fortnightly legal update newsletter produced by Moroğlu Arseven.